Tankup Engineers shares list at 25% premium, surpassing IPO GMP estimates

Tankup Engineers IPO listing today: Shares of mobility and storage solutions provider Tankup Engineers made a solid debut on the NSE SME on April 30, following the completion of its Initial Public Offering (IPO).

 

Tankup Engineers shares listed at ₹175 apiece on the NSE, reflecting a premium of ₹35 per share or 25 per cent against the issue price of ₹140 per share.

 

Tankup Engineers IPO listing outperformed grey market estimates. Ahead of the listing, the unlisted shares of Tankup Engineers were trading at around ₹148 apiece, reflecting a grey market premium (GMP) of ₹8 or 5.71 per cent over the issue price, according to sources tracking unofficial market activity.

 

Tankup Engineers IPO details

The SME offering, valued at around ₹19.53 crore, comprised an entirely fresh issue of 1.4 million equity shares with no offer-for-sale (OFS) component. The public issue was open for subscription from Wednesday, April 23, 2025, to Friday, April 25, 2025. Tankup Engineers raised ₹5.39 crore from anchor investors on the bidding concluded on April 22, 2025.  ALSO READ | Ather Energy IPO ends today; check subscription status, GMP, listing date

 

The Tankup Engineers IPO was priced between ₹133–₹140 per share, with a lot size of 1,000 shares. The public offering garnered an overwhelming response from investors, getting oversubscribed by nearly 124.67 times. The highest demand came from Non-Institutional Investors (NIIs), who oversubscribed their category by 437.62 times, followed by retail investors at 46.51 times, and Qualified Institutional Buyers (QIBs) at 43.65 times.

 

Tankup Engineers will utilise the proceeds from the public issue for the repayment, in full or in part, of certain outstanding borrowings. The remaining proceeds will be used for funding working capital requirements and general corporate purposes.

 

Bigshare Services is the registrar for the issue, while Hem Securities served as the sole book-running lead manager.

 

About Tankup Engineers

Tankup Engineers manufactures vehicle superstructures and custom-built tanks for various industries. Their products include fuel tanks, refuelers, fire tenders, and ground support equipment. The company serves sectors such as agriculture, mining, construction, and aviation. With a 2,665 sq. m facility in Lucknow, the company holds ISO and PESO certifications. Tankup Engineers offers a diverse range of products with in-house fabrication capabilities and stringent quality control.